"Early this morning, through my agents, I reached a preliminary agreement with the Toronto Raptors," Calderon said in a message posted on his Web site. "I want to thank [Raptors president and general manager] Bryan Colangelo, [assistant GM] Maurizio Gherardini, [coach] Sam Mitchell and all of the Raptors family for the confidence that they have placed in me.

"I am sure that together we are going to achieve big things in the future."

Calderon, who was in Madrid on Tuesday to meet with his Spain teammates ahead of the Olympic Games, declined to give details of the contract, but NBA front-office sources told ESPN.com that the Raptors have also struck verbal agreements to sign Croatian guard Roko Ukic, whom they drafted in 2005, and former New Jersey Nets draftee Hassan Adams along with Calderon after the moratorium is lifted.

As of 12:01 a.m. Tuesday morning, NBA teams were permitted to commence negotiations and strike verbal agreements with free agents, with actual signings and trades on hold until a leaguewide moratorium is lifted July 9.

Calderon averaged 11.2 points and 8.3 assists per game last year, when he split starting duties with T.J. Ford. But the path for him to be the full-time starter was cleared last week when the Raptors and Indiana Pacers agreed to a trade of six-time All-Star forward Jermaine O'Neal to Toronto for Ford, center Rasho Nesterovic and the 17th pick in the draft (which turned out to be Georgetown center Roy Hibbert).

The Raptors also received the 41st pick from the Pacers -- 6-foot-10 Australian Nathan Jawai -- and Indiana received Raptors forward Maceo Baston to complete the trade.

Information from ESPN.com senior writer Marc Stein was used in this report.